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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 24 April 2009
Sime Darby Berhad Seeks Buyer For Hotel Equatorial Melaka
Litolier Group Opens Ramada Plaza New Delhi
Radisson Plaza Hotel Tianjin Opens In Tianjin, China
Visa-Free Access For Russians To Hong Kong
Kingdom To Expand Singapore’s Raffles Hotel
Approval Given For US$6.8 Million Luxury Hotel In Kandy, Sri Lanka
Absolute Share Price Performance, As At 24 April 2009
Sime Darby Berhad Seeks Buyer For Hotel Equatorial Melaka Return to Headlines
Malaysia’s Sime Darby Berhad’s 496-key Hotel Equatorial Melaka is currently up for sale and could potentially fetch approximately US$50 million or around US$100,800 per key. The sale is in line with the group’s intention to sell non-core businesses. Located in Bandar Hilir in the heart of Malacca, the hotel posted an average occupancy of more than 60% and an average room rate of US$50, generating approximately US$10 million in revenue and US$3.1 million earnings before interest, tax, depreciation and amortisation in end June 2008. Hotel Equatorial Melaka is positioned as a five-star property with 22 storeys and three basement floors, seven food and beverage outlets and a 1,300-seat ballroom.
Litolier Group Opens Ramada Plaza New Delhi Return to Headlines
Litolier Group has announced its entry into the Indian hospitality sector with the opening of its first hotel, Ramada Plaza New Delhi. The hotel group has invested around US$20 million for its New Delhi hotel which has 419 guestrooms. The group also has plans to open another two hotels in Mumbai and Goa. The Mumbai hotel is expected to have around 350 rooms.
Radisson Plaza Hotel Tianjin Opens In Tianjin, China Return to Headlines
Radisson Hotels and Resorts has announced the opening of the 270-room Radisson Plaza Hotel Tianjin in Tianjin, China. The hotel is a joint investment between Tianjin Urban Construction Group and Hong Kong’s First Eastern Investment Group. Located on Xinkai Road, west of Tianjin Railway Station and east of Tianjin Airport, Radisson Plaza Hotel Tianjin is located in the new financial hub of Hedong District. The 23-storey hotel features three executive floors and an executive lounge on the top floor, five food and beverage outlets, including three restaurants and two bars, a spa, a health club and an indoor heated pool.
Visa-Free Access For Russians To Hong Kong Return to Headlines
The Hong Kong authorities have agreed to allow a 14-day visa-free access for Russian tourists, in an effort to promote Hong Kong to short-haul destinations amidst the global economic downturn. Visitor arrivals from Russia exceeded 37,000 in 2008, reflecting a 13% growth from 2007. The authorities are also looking to cooperate with Hainan Island and other Chinese provinces to promote multi-destination itineries with Hong Kong. In 2009, Hong Kong is forecast to welcome 29 million visitor arrivals, a 1.6% decline from 2008.
Kingdom To Expand Singapore’s Raffles Hotel Return to Headlines
Kingdom Holdings Company (Kingdom) has announced that it has secured the relevant approval from the Singapore authorities to expand the landmark Raffles Hotel. With a 58.1% controlling stake in Fairmont Raffles Hotels International (Fairmont), Kingdom announced that the expansion involves the addition of 78 rooms. On another front, Kingdom also announced the completion of the US$171 million renovation of London’s Savoy hotel. The iconic hotel is scheduled to open in the latter part of 2009 and will be managed by Fairmont.
Approval Given For US$6.8 Million Luxury Hotel In Kandy, Sri Lanka Return to Headlines
The Board of Investments (BOI) has given the approval for the construction of a 75-key luxury hotel in Kandy, Sri Lanka. Located on a site formerly occupied by Odeon Theatre and costing US$6.8 million, the development will be implemented by Canora Hotels Private Limited. Construction is scheduled to commence in 2009 and the hotel is likely to be opened by 2012. The development is envisaged to cater to tourists visiting Kandy during the Esala Perehera and other sports events.
Absolute Share Price Performance, as at 24 April 2009
Closing Share Price as at 24 April 2009 17 April 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 3.98 4.15 -4%
General Property Group 0.42 0.53 -21%
Mirvac Group 0.97 1.18 -18%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.26 0.28 -7%
Living and Leisure Australia Group 0.02 0.03 -15%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.10 3.04 2%
Dusit Thani Public Co Ltd 19.30 20.80 -7%
The Erawan Group Public Limited 1.29 1.23 5%
Grande Asset Development 1.51 1.51
Laguna Resorts & Hotel Public Co Ltd 27.00 26.00 4%
Minor International PCL 6.75 6.20 9%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 16.15 15.60 4%
Beijing Capital Tourism Co Ltd 17.15 17.66 -3%
Jinling Hotel Corporation Ltd 6.40 6.36 1%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 11.36 11.20 1%
Guangzhou Dong Fang Hotel Co Ltd 5.94 5.50 8%
Shenzhen Century Plaza Hotel Co Ltd 4.07 4.05
Home Inns & Hotels Management Inc 13.40 13.07 3%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.90 5.80 2%
Regal Hotels International Holdings Ltd 1.60 1.62 -1%
Sino Hotels Holdings Ltd 2.50 2.41 4%
The Hong Kong & Shanghai Hotels Ltd 6.09 6.16 -1%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.24 0.25 -4%
ART Management Pte Ltd 0.50 0.47 5%
Banyan Tree Holdings Limited 0.38 0.40 -5%
CDL HTrust 0.56 0.59 -5%
Hotel Grand Central Ltd 0.56 0.54 4%
Hotel Plaza Ltd 0.93 0.94 -1%
Hotel Properties Ltd 1.04 1.08 -4%
Mandarin Oriental International Ltd (US$) 1.01 0.94 7%
Shangri-La Asia Ltd (HK$) 10.94 11.60 -6%
Stamford Land 0.26 0.28 -7%
Return to Headlines
HVS Beijing
David Ling
HVS Hong Kong
Mark Keith & David Ling
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
David Ling
HVS Singapore
David Ling
Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS Singapore.
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